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Mrs. OConnor has owned a property for 12 full years, for which she paid $200,000. Straight-line cost recovery was used. The loan balance is $154,000.
Mrs. OConnor has owned a property for 12 full years, for which she paid $200,000. Straight-line cost recovery was used. The loan balance is $154,000. If sold today for $325,000 with costs of sale of $25,000 and tax liability of $28,000 on the sale, what would her sales proceeds be after taxes?
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